Credit Supply and Corporate Innovation

Mario Daniele Amore, Cédric Schneider, Alminas Zaldokas

Research output: Contribution to conferencePaperResearchpeer-review

Abstract

We present evidence that banking development plays a key role in technological progress. We focus on firms’ innovative performance, measured by patent-based metrics, and employ exogenous variations in banking development arising from the staggered deregulation of banking activities across U.S. states during the 1980s and 1990s. We find that deregulation had significant beneficial effects on the quantity and quality of innovation activities, especially for firms highly dependent on external capital and located closer to entering banks. Furthermore, we find that these results are partly driven by a greater ability of deregulated banks to geographically diversify credit risk.
Original languageEnglish
Publication date2012
Number of pages49
DOIs
Publication statusPublished - 2012
EventEuropean Economic Association & Econometric Society : 2012 Parallel Meetings - University of Málaga, Málaga, Spain
Duration: 27 Aug 201231 Aug 2012
http://www.eea-esem2012malaga.org/

Conference

ConferenceEuropean Economic Association & Econometric Society
LocationUniversity of Málaga
CountrySpain
CityMálaga
Period27/08/201231/08/2012
Internet address

Cite this

Amore, M. D., Schneider, C., & Zaldokas, A. (2012). Credit Supply and Corporate Innovation. Paper presented at European Economic Association & Econometric Society , Málaga, Spain. https://doi.org/10.2139/ssrn.2022235
Amore, Mario Daniele ; Schneider, Cédric ; Zaldokas, Alminas . / Credit Supply and Corporate Innovation. Paper presented at European Economic Association & Econometric Society , Málaga, Spain.49 p.
@conference{006e06b8f93c43f08b19298ceb5da1d4,
title = "Credit Supply and Corporate Innovation",
abstract = "We present evidence that banking development plays a key role in technological progress. We focus on firms’ innovative performance, measured by patent-based metrics, and employ exogenous variations in banking development arising from the staggered deregulation of banking activities across U.S. states during the 1980s and 1990s. We find that deregulation had significant beneficial effects on the quantity and quality of innovation activities, especially for firms highly dependent on external capital and located closer to entering banks. Furthermore, we find that these results are partly driven by a greater ability of deregulated banks to geographically diversify credit risk.",
keywords = "Financial development, Banking deregulation, Innovation, Patents",
author = "Amore, {Mario Daniele} and C{\'e}dric Schneider and Alminas Zaldokas",
year = "2012",
doi = "10.2139/ssrn.2022235",
language = "English",
note = "null ; Conference date: 27-08-2012 Through 31-08-2012",
url = "http://www.eea-esem2012malaga.org/",

}

Amore, MD, Schneider, C & Zaldokas, A 2012, 'Credit Supply and Corporate Innovation' Paper presented at, Málaga, Spain, 27/08/2012 - 31/08/2012, . https://doi.org/10.2139/ssrn.2022235

Credit Supply and Corporate Innovation. / Amore, Mario Daniele; Schneider, Cédric; Zaldokas, Alminas .

2012. Paper presented at European Economic Association & Econometric Society , Málaga, Spain.

Research output: Contribution to conferencePaperResearchpeer-review

TY - CONF

T1 - Credit Supply and Corporate Innovation

AU - Amore, Mario Daniele

AU - Schneider, Cédric

AU - Zaldokas, Alminas

PY - 2012

Y1 - 2012

N2 - We present evidence that banking development plays a key role in technological progress. We focus on firms’ innovative performance, measured by patent-based metrics, and employ exogenous variations in banking development arising from the staggered deregulation of banking activities across U.S. states during the 1980s and 1990s. We find that deregulation had significant beneficial effects on the quantity and quality of innovation activities, especially for firms highly dependent on external capital and located closer to entering banks. Furthermore, we find that these results are partly driven by a greater ability of deregulated banks to geographically diversify credit risk.

AB - We present evidence that banking development plays a key role in technological progress. We focus on firms’ innovative performance, measured by patent-based metrics, and employ exogenous variations in banking development arising from the staggered deregulation of banking activities across U.S. states during the 1980s and 1990s. We find that deregulation had significant beneficial effects on the quantity and quality of innovation activities, especially for firms highly dependent on external capital and located closer to entering banks. Furthermore, we find that these results are partly driven by a greater ability of deregulated banks to geographically diversify credit risk.

KW - Financial development

KW - Banking deregulation

KW - Innovation

KW - Patents

U2 - 10.2139/ssrn.2022235

DO - 10.2139/ssrn.2022235

M3 - Paper

ER -

Amore MD, Schneider C, Zaldokas A. Credit Supply and Corporate Innovation. 2012. Paper presented at European Economic Association & Econometric Society , Málaga, Spain. https://doi.org/10.2139/ssrn.2022235